Indian Stock Market Enters Positive Zone, Hold Long Positions For Now
Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that Indian Markets are filled with positive sentiments but US-China Trade war is a big worry for the market. EquityPandit also predicted that traders can initiate fresh long positions if market trades above 10910 for Nifty and 27403 for BankNifty and exactly same happened. Indian Stock Market moved positive and managed to breached EquityPandit predicted reversal levels in early trade. Market moved sharply positive after breaching these resistance levels and managed to close above psychological resistance of 11000 levels for Nifty. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open gap positive. Indian Stock Market including Nifty, BankNifty and Sensex have entered into positive zone. Though market has formed Hanging Man Candlestick pattern which is a bearish reversal pattern but if market managed to trade above 11070 for Nifty and 28000 for BankNifty with volumes then we would see sharp positive rally in the market. Overall, Indian Stock Market is bullish as of now and traders should consider every downfall as an opportunity to go long in the market. Traders are suggested to hold long positions in the market.
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FIIs were net sellers of Rs.752.90 crores whereas DIIs were net buyers of Rs.1272.29 crores in cash market for last trading session. Nifty would see strong support at 11000-10965-10920-10900 whereas strong resistance would be seen 11078-11118-11157-11185 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Stocks In F&O Ban Period: IDBI.
NSE Nifty: (11058) The support for the Nifty is 11000-10965-10920-10900 and the resistance to the up move is at 11078-11118-11157-11185 levels.
NSE BankNifty: (27951) The support for BankNifty is 27840-27760-27690-27540 and the resistance to the up move is at 28075-28251-28360-28485 levels.
BSE Sensex: (37494) The support for the Sensex is at 37365-37290-37230-37110 and the resistance to the up move is at 37660-37740-37880-37910 levels.
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